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economical trade exchange

Trade exchange is one of the most important factors that contribute to raising the level of the economy and financial profits, in addition to being the main pillar in building economic and international relations between all countries of the world, through commercial import and export operations. There are technologically advanced countries that export their products to countries that lack technological industries. And other agricultural ones, where they export fruits, vegetables and fruits to countries that lack agriculture in their soil, and there are countries rich in oil wells, where they export oil derivatives to countries that lack these derivatives, and trade exchange depends on currency and capital, where these currencies vary, including the cash currency, which is the paper currency Used in daily life, and the electronic currency, which is the Bitcoin currency.

What is Bitcoin

Bitcoin is defined as a digital electronic currency that was first created in 2009, where it is traded over the Internet and is the first decentralized electronic currency as it works without central warehouses or human management, and Bitcoin is considered one of the global payment systems where it can be compared to other cash currencies This currency is characterized by security, as it uses a special encryption system, which makes it difficult to counterfeit or counterfeit.
What is Bitcoin
What is Bitcoin

Bitcoin currency features

Bitcoin is the main component of financial transactions that are carried out electronically through computers, as these transactions are concerned with buying and selling via the Internet, and there are several advantages of the currency of Bitcoin that will increase the demand for the use of this currency, and the following are mentioned the most important of these features:
  • Confidentiality and anonymity of the user: it is not possible to monitor or interfere in the buying and selling transactions that take place through the bitcoin currency, and this point is considered one of the economic advantages related to individuals.
  • Speed ​​and low fees: where trade operations are carried out without the need for an intermediary between the merchant and the customer, which contributes to the completion of the process quickly and without the need to pay fees to the intermediary.
  • Decentralization: Bitcoin is a currency that is not affiliated with any bank or financial institution. It is a cryptocurrency that cannot be easily traced, as it does not contain serial numbers.
  • Non-taxable: Bitcoin purchases are not subject to sales tax, which contributes to saving money.
  • Global spread and expansion: Bitcoin is not linked to any specific geographical location, as it can be considered a local currency for all countries of the world.

Bitcoin wallet types

A bitcoin wallet is a place where bitcoins are stored securely, where currencies are sent and received and the balance is used easily through it.
  • Online wallets: this is the most used type on the Internet because of its simplicity, ease and speed in dealing with it.
  • Desktop Bitcoin Wallet: Electrum is a set of software that is downloaded and installed on a computer and used to store bitcoins.
  • Smartphone Bitcoin Wallet: where mobile applications are used to act as a wallet for Bitcoin and use it to pay in buying and selling transactions.
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